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20130212
20130212
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KQED (PBS) 2
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Search Results 0 to 3 of about 4 (some duplicates have been removed)
PBS
Feb 11, 2013 4:00pm PST
of the catholic church, it is no surprise at all. pope benedict xvi announced that he will resign at the end of february. he is the first pope to do so in 600 years. >> it was during a routine meeting with vatican card bills that pope benedict did something that no pontiff had done in nearly 600 years. he announced his resignation and stunned his audience. he said that i have come to the certainty that my strengths, in due to an advanced age, are no longer suited to an adequate execution of saint peter's ministry. pope benedict said the strength of mind and body are necessary. strength in that in the last few months had deteriorated to the point where he doubted he could carry out his duties. only yesterday pope had spoken to sunday audience in st. peter's square. the vatican said that there was no specific medical issue making can step down. the pope said that he did not have the stamina to continue. >> i am very disappointed and in shock about what happened this morning. >> it is a great act of courage to do what has not been done in 600 years. >> 1 cardinal feels it is a liberating act fo
PBS
Feb 12, 2013 2:30pm PST
have new details on his help. any speculation reduce speculation of pope benedict's success. >> following a strategic review. they hope to cut 4000 jobs. almost half will come out of the investment bank. >> bob diamond was blamed for changing from a top banking to high risk investment banking. they were outraged by the size of bonuses and the illegal fixing of the libor rates. the new went on how they want to change for barclays. >> i think we were into short- term focus. on occasion we were too self- serving. what we're talking about is building a better barclays that learned from those experiences that will deliver the whole of our stakeholders. >> he is not only want to improve the bank's image with the public, he wants to woo investors as well. the bank made a $360 million loss last year. he is cutting $2.5 billion from barkley's annual costs. 1900 jobs will go with the european retail and business banking sector. 1800 in corporate banking. >> the investment bank's deliver 4.1 billion of this profit. they are losing money on the retail side. the investment bank will reta
Search Results 0 to 3 of about 4 (some duplicates have been removed)